CAR Intends to Digitalize Land Registration by Utilizing National Solana Memecoin for Tokens
The Central African Republic (CAR) is pioneering a new era of digital finance by tokenizing over 1,700 hectares of land, marking a shift from the controversial Sango Coin initiative. This ambitious project, announced by President Faustin-Archange Touadéra on May 27, 2025, aims to increase transparency and attract investment in the resource-rich yet economically challenged country.
Starting June 2025, the tokenized land will be accessible online using the $CAR token on the Solana blockchain. According to the presidential decree, the land, which spans an area equivalent to roughly 2,500 football pitches, may be used for mining purposes, with specific reference to the country's mining code and tokenization laws.
The $CAR token, launched in February, soared 21% on the day of the announcement and has seen an overall increase of over 127% this week. Notably, the price began rising prior to the official announcement, suggesting pre-existing interest in the initiative. $CAR currently boasts a market cap of $56.63 million, with over 18,400 holders, as reported by CoinGecko.
President Touadéra launched the $CAR token as an experiment to unite citizens and showcase the country on the global stage. The token briefly reached a peak market cap of $884.31 million shortly after launch before experiencing a downturn due to unclear utility and waning interest. However, Touadéra has remained supportive, regularly posting about the coin on social media.
The land tokenization push comes as the earlier crypto venture, Sango Coin, winds down following controversy and frustration among investors. On April 29, the Sango team announced that the original project would not continue in its previous form, hinting at a reboot with a "new direction that honors the initial ambition but adapts it to a stronger path forward."
The CAR's land tokenization project represents one of the most significant national-level tokenizations of real estate in Africa. Leveraging blockchain technology, the initiative addresses issues of ownership transparency and accessibility, potentially opening up land investment to a broader, possibly international audience. While specific details about the deployment and regulatory frameworks are still emerging, the project could position the CAR at the forefront of blockchain-powered national development.
Edited by Sebastian Sinclair
- The Central African Republic will make the tokenized land accessible using the $CAR token on the Solana blockchain, starting from June 2025.
- The Presidential decree states that the tokenized land, equivalent to around 2,500 football pitches, can be used for mining purposes, with mining code and tokenization laws as the guiding principles.
- Following the project announcement, the $CAR token saw an overall increase of over 127%, leaping 21% on the day of the announcement.
- Prior to the official announcement, the price of the $CAR token began to rise, suggesting pre-existing interest in the initiative.
- The CAR's land tokenization project is poised to become one of the most significant national-level tokenizations of real estate in Africa, leveraging blockchain technology for increased transparency and accessibility in land ownership.
- The $CAR token initially experienced a downturn due to unclear utility and waning interest but has remained supported by President Touadéra, with frequent posts about the coin on his social media platforms.
